Anyone Bank With Bank of America?

[lawyerdad]

Good luck. If you don't know the song "I Hate Banks" from the album Frenzy by Mojo Nixon & Skid Roper, I highly recommend it.
The whole album in fact, even if some of the lyrics from "Burning Down The Malls" are now a bit dated.

 

[mrchapel]

Originally Posted by SantaCruzGuy

Stories like this remind me why I don't do business with certain banks such as Bofa or Wells Fargo.
They're basically thieves.
They're not there to help you, just help themselves

I dropped both those banks ages ago like a hot potato.

In most cases, I'd agree about theivery with banks. However, it's important to remember that banks are a business, and business by it's very nature is not designed to help people.

To the OP, how about STOP spending more money so as to stop racking up overdraft fees? I hope you keep a budget. How on earth did you withdraw money knowing your balance was low? If you knew your balances were low, you had no business purchasing anything you couldn't readily cover. It's just common financial sense. I hope things work out! Overdrafts are a *****, but be glad they are there to cover you when these things occur, and considering the service, I'd say overdraft fees are worth it rather than having all of those debts bounce and make things MUCH worse and MUCH more expensive for you. Next time keep a better watch on what you spend!

 

[satorstyle]

Originally Posted by mrchapel

In most cases, I'd agree about theivery with banks. However, it's important to remember that banks are a business, and business by it's very nature is not designed to help people.

To the OP, how about STOP spending more money so as to stop racking up overdraft fees? I hope you keep a budget. How on earth did you withdraw money knowing your balance was low? If you knew your balances were low, you had no business purchasing anything you couldn't readily cover. It's just common financial sense. I hope things work out! Overdrafts are a *****, but be glad they are there to cover you when these things occur, and considering the service, I'd say overdraft fees are worth it rather than having all of those debts bounce and make things MUCH worse and MUCH more expensive for you. Next time keep a better watch on what you spend!

I'm glad you said it, you must type faster than me. My father (a retired CPA) would laugh at things people accumulate, he always said stuff is nice, but if you want to impress me show me your liquidity. Thank God there is a lesson in everything.

 

[crazyquik]

Contest the fees if they hit you with one.

If they don't waive it, close your account and go somewhere else. There is a bank on every corner.

El Banco de America won't care, we let in over 5,000 new customers a day for them.

 

[bigbris1]

I have several accounts with several institutions which I use for various purposes. I do not use charge accounts (credit cards) so anything I spend is as good as cash.

Now, this happens to be my 'petty cash' account, if you will. I use it for small purchases, i.e. gas, McDonald's, etc. I know exactly how much I have in there at all times. I have set up a reoccurring electronic transfer to this account which keeps it funded.

I do, however use this account to cash checks, like from ebay purchases & such. My concern was that the bank has a weird posting procedure where they rearrange items on your account from day to day. I can go online & check the balance & view activity right now, then go back later & everything will look very different.

To give an example, the day I posted this, at 6PM I had a balance of $5.91, at 9PM there were 4 items atop the account in red, the same 4 items listed elsewhere on the account earlier that day. Then when the electronic deposit hit (around 1AM) the items were shifted again, being shown as deducted from the electronic deposit which appeared to have happened before the charges. Making sense now?

In all, I got a $35 OD charge which I will live with, it could have been $140.

 

[Journeyman]

In these days of electronic wizardry, it's astonishing how long it can take a bank to transfer money from one account to another.

A couple of months ago I needed to pay some bills, and so my wife transferred a few thousand dollars from her account to my account - with the same bank. Foolishly, I thought that the transfer would be almost instantaneous - but the money showed up in my account 36 hours later!

Of course, we could have gone down to the local bank branch and withdrawn the money personally, but the bank would have asked us for one days' notice of the withdrawal as it was more than $2000, and then would have charged us $2.50 for making a withdrawal in person!

I had a similar experience to BigBris a couple of years ago, where I accidentally overdrew my account by enthusiastically paying off my credit card balance and buying groceries the day before payday. When I got my statement, I noticed that I had been slugged a $35 overdrawn fee, but that the bank had then waived it as my pay had gone into the account early the next morning.

 

[tonylumpkin]

Originally Posted by Journeyman

In these days of electronic wizardry, it's astonishing how long it can take a bank to transfer money from one account to another.

Its not astonishing, its digusting!